Director Shareholding

RNS Number:0102U
Royal London Growth & Inc Trust PLC
08 January 2004

                                  SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS (1)

1. Name of company
ROYAL LONDON GROWTH & INCOME TRUST PLC

2. Name of director
GEORGE KERSHAW

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest
IN RESPECT OF DIRECTOR NAMED IN 2 ABOVE- BENEFICIAL INTEREST

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
GEORGE KERSHAW

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
NO

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single company PEP and if discretionary/non
discretionary
TRANSFER OF STOCK FROM OWN NAME INTO AN ISA

7. Number of shares/amount of stock acquired
50,000 9% CONVERTIBLE UNSECURED LOAN STOCK 2020

8. Percentage of issued class
0.093%

9. Number of shares/amount of stock disposed
50,000 9% CONVERTIBLE UNSECURED LOAN STOCK 2020

10. Percentage of issued class
0.093%

11. Class of security
9% CONVERTIBLE UNSECURED LOAN STOCK 2020

12. Price per share
106.5 PENCE - SALE

106.6 PENCE - PURCHASE

13. Date of transaction
6 JANUARY 2004

14. Date Company informed
7 JANUARY 2004

15. Total holding following this notification
437,500 9% CONVERTIBLE UNSECURED LOAN STOCK 2020

16. Total percentage holding of issued class following this notification
0.812%

17. Any additional information
NONE

18. Name of contact and telephone number for queries
LOUISE RICHARD - 020 7410 4942

19. Name and signature of authorised company official responsible for making
this notification
LOUISE RICHARD, FOR AND ON BEHALF OF BNP PARIBAS SECRETARIAL SERVICES LIMITED, COMPANY SECRETARY TO ROYAL
LONDON GROWTH & INCOME TRUST PLC

Date of Notification
8 JANUARY 2004






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